Oct

30

2006

RSMeans, a business unit of Reed Construction Data, announces a new 225-page soft-cover book geared to construction company owners — giving them the guidance they need to put their firms on a solid footing for long-term success and profit.

Only 43% of construction firms remain in business after 4 years, yet thousands of contractors achieve success over long and fulfilling careers. The difference between success and failure lies in large part in knowledge that most contractors have to learn “the hard way,” through difficult and sometimes costly experience. In this book, author Nick Ganaway, owner of a successful commercial construction company for more than 25 years, speaks directly to other contractors. He gives them the benefit of his sometimes hard-won experience — explaining what it takes to build all aspects of a business that’s profitable, enjoyable, and enduring.

Here are some of the things contractors will learn from this book:

• Essential terms and conditions to include and exclude in contracts.
• “Commandments” contractors need to follow to ensure they’re paid what they're owed, including step-by-step change-order procedures to avoid disputes and non-payment.
• What must be done administratively before breaking ground on every project.
• How to select, hire, and keep “golden” employees.
• Ways to target, check-out, land, and retain profitable customers.
• Effective marketing even the smallest contractor can afford.
• How to identify the accountants, lawyers, and insurance agents that are right for the contractor and his business.
• The What, When, Where, and Why of licensing and registration.
• Strict do’s and don'ts of mechanics’ liens – including when an owner goes bankrupt.
• The advantages of specializing, including the opportunities in chain store construction.
• More than 40 construction, government, and other valuable online resources.

Based on his years of experience, the author points out the opportunities and risks in various situations and explains how to build profit for the long haul. From the construction company owner’s role, to finding and retaining the right key employees, to marketing the company, there is a strong emphasis on the “human factor” so crucial to success in construction.

The book also makes the case for specialization, or niche contracting, a strategy that allows a contractor to become more knowledgeable in a field, be seen as an insider, become sought-after, and achieve a more profitable business.

"Construction Business Management provides insight into the critical business skills for our industry, that are not often mastered," says Wayne J. DelPico, Vice-President of The Mulligan Company, Inc. a building and development company in Massachusetts." Mr.Ganaway's professional experience is evident in the clear and concise manner in which he addresses some difficult, but essential topics in managing a successful construction business."

John Ware, Senior Vice President and General Manager of RSMeans, says, “This book provides many practical insights that can make an immediate difference for contractors, superintendents, and subcontractors, especially in a tight, less forgiving economy.”

About the Author
Nick B. Ganaway started and then operated his own successful construction business for 25 years. His prior experience includes several years as a construction manager for Shell Oil Company. He has a degree in industrial engineering from the University of Texas at Arlington and lives in Atlanta, Georgia, where he currently consults with contractors and other small-business owners.